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As outlined in a report coming to council on Monday, the franchise will finally be placed on the market following years of shrinking revenue, financial losses and frustration from owners and fans alike.

Sarnia Sting director of hockey operations Bill Abercrombie said it is the goal of owners Rob and Larry Ciccarelli to keep the team in Sarnia.

“They have had some offers and turned down some offers in the past year,” Abercrombie said, noting nothing is imminent in terms of a sale.

One offer that was turned down was an out-of-town offer, he said.

Speaking on behalf of the organization, with the Ciccarellis currently out of the country, Abercrombie said the owners have listened to offers on the team but things have been more serious in the last year because of the arena situation.

“The Ciccarellis’ goal is to keep the team in Sarnia. If there are no local buyers they will have to look elsewhere.”

The franchise has endured financial losses in recent years, as well as some fan backlash over the product on the ice.

The Ciccarellis are currently in discussions to turn over management of the RBC Centre back to the City of Sarnia.

The Sarnia Sports and Entertainment Centre, the name of the company that operates the arena and controlled by the Ciccarelli family, has been losing roughly $250,000 a year, Rob Ciccarelli told The Observer is a previous interview.

He said he and his brother were growing frustrated with the mounting losses on the ice and financially.

The owners have been operating the RBC Centre since 2005, and contributed more than $6 million into covering operating costs, Ciccarelli said.

During an interview last year, Ciccarelli said “The RBC Centre is a unique building where the operator pays for the principal payments and the interest payments … But because we're paying on a debt of $10 million, we're paying all the interest payments and principal payments, it's a significant challenge.”

He said at the time that the hockey club alone suffered about $1.4 million in losses in the previous four years.

When the team was purchased and brought to Sarnia in 1994, its operating budget was $495,000. In 2011-12, that figure was $2.3 million.

“I'm starting to think we're cursed to be honest with you,” Ciccarelli said in an October 2012 interview.

Sarnia Mayor Mike Bradley said there are already several interested potential buyers.

But, the possible sale of the Sting adds to the complexity of the decision on operating the RBC Centre.

The new owner may wish to keep on operating it, he noted.

"I approach this in a very positive manner — that if the owner decides to sell, we will work with the new ownership to craft an agreement and continue to have the Sarnia Sting in the building," Bradley said.

He has heard from the current Sting owners that they are interested in keeping the team local. Several parties have shown interest, he noted.

City council is expected to have a report on the ownership of the Sarnia Sting and the operation of the RBC Centre on March 3. A few weeks later, council is expected to make a decision on taking over operation of the RBC Centre, and the possible closures of Germain Arena and the second RBC rink as ice surfaces.

Bradley admitted it will be a tight deadline to have all the information in place to make an informed decision.

"I'm not guaranteeing everything will be done on the 24th, especially with the complications of the sale of the team," he said.

Despite having more than three-dozen former players go on to play in the NHL, including high-profile players Steven Stamkos, Nail Yakupov and Alex Galchenyuk, success on the ice has eluded this franchise.

The Sarnia Sting club has only made it past the first round of the playoffs on three occasions. The team failed to make the playoffs during the 2004-05, 2005-06, 2009-10, and 2010-11 seasons.

The Sting currently sits three points behind Plymouth for the final playoff berth this season.